Energy tech firm raises $11 million in Series A

Houston-based Mercury Fund has led a $11.5 million Series A fundraising effort for a Calgary-based energy technology company as oil and gas firms turn to tech to increase profitability during the energy slump.

Ambyint plans to use some of the money to hire people for customer support and sales and marketing in its Houston office, U.S. President Chris Robart said. The company has attracted funding from Houston-based investors and venture capital firms.

˜Disruption’ is a pretty well-worn term these days, mentioned at least three times in the first five sentences of any tech blog and thrown around liberally at any good Silicon Valley hackathon. Up until relatively recently, the efforts of data-led disruption were directed squarely at consumers and changing the way they work, rest and play.